Cypress Asset Management Inc. TX Makes New $7.49 Million Investment in MercadoLibre, Inc. (NASDAQ:MELI)

Cypress Asset Management Inc. TX bought a new position in shares of MercadoLibre, Inc. (NASDAQ:MELI) during the 4th quarter, Holdings Channel.com reports. The firm bought 4,379 shares of the company’s stock, valued at approximately $7,490,000. MercadoLibre makes up 1.9% of Cypress Asset Management Inc. TX’s holdings, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its stake in shares of MercadoLibre by 11.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 1,369 shares of the company’s stock valued at $2,328,000 after purchasing an additional 143 shares during the period. Ninety One North America Inc. bought a new stake in MercadoLibre during the 4th quarter worth approximately $4,923,000. Paragon Capital Management Inc. increased its holdings in MercadoLibre by 58.5% during the 4th quarter. Paragon Capital Management Inc. now owns 1,637 shares of the company’s stock worth $2,784,000 after purchasing an additional 604 shares in the last quarter. Vinland Capital Management Gestora de Recursos LTDA. bought a new stake in MercadoLibre during the 4th quarter worth approximately $63,613,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in MercadoLibre during the 4th quarter worth approximately $2,619,000. 87.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reduced their target price on MercadoLibre from $3,000.00 to $2,400.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. New Street Research upgraded MercadoLibre from a “neutral” rating to a “buy” rating and upped their price objective for the company from $2,000.00 to $2,300.00 in a research note on Thursday, January 30th. Morgan Stanley restated an “overweight” rating on shares of MercadoLibre in a research report on Thursday, May 1st. The Goldman Sachs Group increased their price objective on MercadoLibre from $2,640.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. increased their price objective on MercadoLibre from $2,250.00 to $2,600.00 and gave the stock a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $2,572.86.

MercadoLibre Stock Down 3.8%

Shares of NASDAQ:MELI opened at $2,507.83 on Friday. The stock’s 50-day moving average price is $2,190.01 and its 200-day moving average price is $2,017.16. MercadoLibre, Inc. has a 12-month low of $1,550.00 and a 12-month high of $2,635.88. The stock has a market capitalization of $127.14 billion, a P/E ratio of 66.52, a price-to-earnings-growth ratio of 1.12 and a beta of 1.61. The company has a current ratio of 1.25, a quick ratio of 1.22 and a debt-to-equity ratio of 0.78.

MercadoLibre (NASDAQ:MELI) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $9.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $7.82 by $1.92. MercadoLibre had a return on equity of 51.89% and a net margin of 9.20%. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $5.55 billion. During the same period last year, the firm earned $6.78 earnings per share. The company’s revenue for the quarter was up 37.0% compared to the same quarter last year. On average, equities analysts anticipate that MercadoLibre, Inc. will post 43.96 earnings per share for the current year.

MercadoLibre Profile

MercadoLibre, Inc operates online commerce platforms in the United States. It operates Mercado Libre Marketplace, an automated online commerce platform that enables businesses, merchants, and individuals to list merchandise and conduct sales and purchases digitally; and Mercado Pago FinTech platform, a financial technology solution platform, which facilitates transactions on and off its marketplaces by providing a mechanism that allows its users to send and receive payments online, as well as allows users to transfer money through their websites or on the apps.